A Daily Outlook: BTC/USD; March 17, 2022

Top 5 Headlines on Digital Currency:

  • Bitcoin retreated from the highest levels of the day after the Federal Reserve signaled additional tightening while increasing interest rates, making risk assets potentially less attractive to investors – Investing.
  • Cryptocurrency trading volumes are in decline in Russia after traditional payment platforms suspend their operations as the wealthy turn to Dubai for a haven – Investing.
  • PayPal CEO restated his positive stance on crypto. Dan Schulman believes that the intersection between digital assets, CBDCs, stablecoins, and digital wallets could redefine the financial world – Investing.
  • The EU parliament voted to veto a suggested ban on Proof of Work cryptocurrencies, a decision that would have obstructed EU member states from mining Bitcoin and similar cryptocurrencies – Investing.
  • Crypto exchanges FTX and Kuna and staking platform Everstake have partnered with Ukrainian government officials to launch a donation website for users wishing to send crypto to help the country and its people – Investing.

Technical View:

  • The BTC trades marginally lower on Thursday and slips back below $41,000 mark.
  • The pair made intraday high at $41,497 and low at $40,653 mark.
  • Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
  • A sustained close above $41,550 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $40,100 on H1 chart requires for the downside rally.
$40,100 $41,550
$39,500 $41,900
$39,050 $42,300
$38,720 $42,650
$38,200 $43,100


Take a look and do trade wisely!
Good Luck